Broadmoor, Richmond - August 2026 Real Estate Report

Broadmoor, Richmond: Your Home Is Worth More Than the City Thinks - But the Market Is Taking a Breather

If you have been watching the "For Sale" signs in Broadmoor lately, here is what is actually happening. Values are holding up better than the headlines suggest, but this is not a market where you can sit back and wait forever. Here is the straight story.

The Vibe: Houses vs. Condos in Broadmoor Right Now

Let us start with houses, because the number that jumps out is the average sale price of $1,545,000 - up 10.8% from last month. Before you get too excited, keep in mind only 1 house sold this month, so that single transaction is doing a lot of heavy lifting on that percentage. The HonestDoor predicted market value sits at $1,846,190, which is essentially flat against its 3-month moving average of $1,846,053. That tells us prices are stable, not surging. At $521 per square foot, we are in premium territory for Richmond. On the neighbourhood leaderboard, Broadmoor houses rank 11 out of 15 for growth - below average - but rank 5 out of 13 for price, which puts us above average. Translation: we live in a pricier pocket that is not growing fast right now.

For condos, the story is a bit different. Four units sold this month at an average of $583,250, and that number is essentially unchanged from last month - steady as it goes. At $658 per square foot, condos here are actually priced higher per foot than the houses. The HonestDoor predicted value of $569,837 is ticking slightly below its 3-month moving average of $570,502, which signals a mild softening. Condo growth ranks 8 out of 15 in Richmond - right in the middle of the pack. Not a standout, but not falling off a cliff either.

• House average sale price: $1,545,000 (1 sale this month)
• House price per sq ft: $521
• House HonestDoor predicted value: $1,846,190
• House rental yield: 3.93% - estimated rent $6,427/month
• House growth rank: 11 out of 15 in Richmond
• Condo average sale price: $583,250 (4 sales this month)
• Condo price per sq ft: $658
• Condo HonestDoor predicted value: $569,837
• Condo rental yield: 3.70% - estimated rent $2,755/month
• Condo growth rank: 8 out of 15 in Richmond

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here is something most Broadmoor homeowners do not think about until it is too late. The city assessed the average house here at $1,813,122. But the HonestDoor Price for that same house is $1,837,176 - that is $24,054 more. The city's assessment is a snapshot frozen in time, calculated months before you ever see it. The HonestDoor Price pulls from real-world transaction data and updates in real time, so it reflects what a buyer would actually put on the table today.

For condos, the gap flips. The city assessed the average condo at $570,544, but the HonestDoor Price comes in at $566,488 - slightly lower. That 0.71% gap might seem small, but if you are pricing a listing or negotiating a sale, starting from the wrong number costs you real money. The assessment is not your market value. It is a tax tool. The HonestDoor Price is your real-world check.

• House assessed value: $1,813,122 vs. HonestDoor Price: $1,837,176 (you are ahead by $24,054)
• Condo assessed value: $570,544 vs. HonestDoor Price: $566,488 (market is pricing slightly below assessment)
• 6,479 properties assessed in Broadmoor this year - a big pool, and your unit is one data point in it
• 24 house transactions and 10 condo transactions recorded in 2026 so far

The "So What?": Thinking About Selling This Summer?

If you are a house owner in Broadmoor and you are thinking about listing this summer, the honest answer is: the window is open, but it is not wide open. Neighbourhood growth is down 0.06% year over year, and the recent property value change sits at -0.80%. That is not a crash - it is a cooling. You are still in a high-price neighbourhood that ranks 4th in Richmond for average assessed value and 2nd for total transaction volume. Buyers are still here. But pricing it right from day one matters more than it did two years ago.

For condo owners, the picture is similar. Values have nudged up 1.85% recently, which is a small positive signal. But with only 10 transactions in 2026 so far and a growth rank of 8 out of 15, this is not a market where you can overprice and wait. Nearby, Shellmont condos are cheaper at $564,172 and growing slightly faster. Gilmore condos are priced much higher at $1,162,601. Broadmoor sits in the middle - which means your pricing strategy needs to be sharp.

The bottom line for anyone thinking about selling: check your HonestDoor Price before you call an agent. It is the most current number you have, and in a market that is taking a breather, starting from an accurate price is the difference between a clean sale and a listing that sits. Broadmoor is still a strong address in Richmond - just make sure your asking price reflects today's market, not last year's optimism.

• Broadmoor Airbnb rank in Richmond: 4th for houses, 17th for condos
• House Airbnb income potential: $319/month - a modest secondary income option
• Condo Airbnb income potential: $137/month
• Nearby comparison - Gilmore houses at $1,952,815 are growing faster; if Broadmoor closes that gap, upside exists
• Nearby comparison - Shellmont condos at $564,172 are your closest competition on price

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.